Does anyone know the ranges for TransUnion??

336-843

Is that range the same for all three credit reporting agencies?

No, it varies slightly so we use the 336-843 for TU and then for our merged of all three we use 300-900. I think that is the basic high and low for the 3 combined. Just our opinion, we could be wrong!

Works out the same, but Equifax is 300-850.

We got an email from our TransUnion representative that said we should put their range at 300-850 in order to match their web site, even though their real range is not quite so wide.

I believe that the ranges can differ based upon the features and type of credit report you are pulling. Therefore, you can't just say "transunion is always 300-850"--each lender should contact their representatives to see what their specific ranges are.

I guess I should change mine to just list 300-850! Our TU rep probably told me the real answer instead of what they want me to communicate to the consumers. Imagine a communication problem in compliance!

From where do we obtain these ranges? It's not on the credit report. It appears from these posts that we simply obtain them from each bureau. Correct? And does it represent the lowest to highest scores that they calculate? (Yes, I have to admit that the "range" was not an item that I concentrated on until yesterday while reading other posts.)

Just an FYI - I asked David Lafleur, Compliance FDIC Washington DC, if we had to disclose credit score ranges since the law stated that we did in one place and that we didn't in another. He stated that we only had to disclose the credit score and the key factors, along with the notice.

Can I ask who your CRA is, that is providing the range of scores?

We use a division of Trans Union called Settlement Solutions who provides a merged report via a website called AMPsLink. With this we have the ability to pull a single report from TU, Experian, or Equifax, or a combined/merged report of any of the three. Our primary contact for this service lies with Trans Union. As far as the formula for the scores, it is FICO that is used for our reports.

Ha! 47 presently viewing this forum. Are we scrambling or what?

Our mortgage center uses a company that pulls together all the necessary data about the applicant's credit in a very detailed report. In it, there are credit scores and factors for each of the three agencies (Experian, Equifax and TransUnion). Is our mortgage center going to have to give three notices, or can they have three sections on the Notice, one for each agency with the related information for that agency?

I also did not know that there are different ranges for each agency. FACTA and FCRA both state that we must disclose the range. Your examiner in Washington may say one thing, but my examiner might have a different opinion. With no clearcut guidance, I am including the range.

I contacted each nationwide CRA (TransUnion, Equifax, and Experian) and they provided me with their ranges of Experian: 300 – 850, TransUnion: 336 – 843, Equifax: 300 – 850. At this time, our systems cannot be programmed to include the key factor information for each CRA so if anyone needs them they are:
• EQUIFAX
• 01-amount owed on accts is too high
• 02-level of delinquency on accts
• 03-too few bank revolving accts
• 04-too many bank or national revolving accts
• 05-too many accts with balances
• 06-too many consumer finance company accounts
• 07-acct payment history is too new
• 08-too many inquires last 12 months • 09-too many accts recently opened
• 10-porportion of balances to credit limits is too high on bank revolving or other revolving accts
• 11-amount owed on revolving acct is too high
• 12-length of time revolving accts have been established
• 13-time since delinquency is too recent or unknown
• 14-length of time accts have been established • 15-lack of recent bank revolving information
• 16-lack of recent revolving acct information
• 17-no recent non mortgage balance information
• 18-number of accts with delinquency
• 19-too few accts currently paid as agreed
• 20-length of time since derogatory public record or collection is too short • 21-amount past due on accts
• 23-number of bank or nation revolving accts with balances
• 24-no recent revolving balances
• 25-length of time installment loans have been established
• 26-number of revolving accts
• 28-number of established accts
• 30-time since most recent acct opening is too short
• 31-too few accts with recent payment information • 32-lack of recent installment loan information
• 33-proportion of loan balances to loan amounts is too high
• 34-amount owed on delinquent accts
• 38-serious delinquency and derogatory public record or collection filed
• 39-serious delinquency
• 40-derogatory public record or collection filed

• TRANSUNION
• 00-no adverse factor
• 01-amt owed on accts is too high
• 02-level of delinquency on accts
• 03-proportion of loan balances to loan amounts is too high
• 04-lack of recent installment loan information
• 05-too many accts with balances
• 06-too many consumer finance company accts
• 07-acct payment history is too new to rate • 08-too many inquires last 12 months
• 09-too many accts recently opened
• 10-proportion of balances to credit limits on bank/national revolving or other accts is too high
• 11-amt owed on revolving accts is too high
• 12-length of time revolving accts have been established
• 13-time since delinquency is too recent or unknown
• 14-length of time accts have been established • 15-lack of recent bank/national revolving information
• 16-lack of recent revolving acct information
• 17-no recent non mortgage balance information
• 18-number of accts with delinquency
• 19-date of last inquiry too recent
• 20-time since derogatory public record or collection is too short
• 21-amt past due on accts
• 23-number of bank or national revolving accts with balances • 24-no recent revolving balances
• 25-length of time installment loans have been established
• 26-number of bank/national revolving or other revolving accts
• 27-too few accts paid as currently agreed
• 28-number of established accounts
• 29-no recent bank/national revolving balances
• 30-time since most recent acct opening is too short
• 31-amt owed on delinquent accts • 36-payments due on accts
• 38-serious delinquency and public record or collection filed
• 39-serious delinquency
• 40-derogatory public record or collection filed
• 41-no recent retail balances
• 42-length of time since most recent consumer finance co. acct established
• 50-lack of recent retail acct information
• 56-amount owed on retail accts
• 98-length of time consumer finance company loans have been established

• EXPERIAN
• 01-current balances on accts
• 02-deliquency reported on accts
• 03-too few banks revolving accts
• 04-too many banks revolving accts
• 05-no. of accts with balances
• 06-no. of finance company accts
• 07-unable to evaluate recent payment history
• 08-no. of recent inquires
• 09-no. of accts opened with the last twelve months • 10-prop. of balance to high credit on banking revolving or all revolving accts
• 11-current balances on revolving accts
• 12-length of revolving acct history
• 13-length of time (or unknown time) since acct. delinquent
• 14-length of time accts have been established
• 15-insufficient or lack of bank revolving acct information
• 16-insufficient or lack of revolving acct information • 17-no recent (non mortgage) acct balance information
• 18-no. of accts delinquent
• 19-too few accts rated “current”
• 20-length of time since legal item filed or collection item reported
• 21-amount past due to accts
• 22-accts not paid as agreed and/or legal item filed
• 24-lack of recently reported balances on revolving/open accts
• 25-length of installment loan history
• 26-no. of revolving accts


• 28-no. of accts established
• 30-length of time since most recent acct established
• 31-too few accts with recent payment information
• 32-no recent installment loan information
• 33-prop. of current loan balance to original loan amount
• 34-amount owed on delinquent accts
• 36-length of time open installment loans have been established • 37-no. of finance co. accts established relative to length of finance history
• 38-serious delinquency and public record or collection filed
• 39-serious delinquency
• 40-derogatory public record or collection filed.
• 98-lack of recent information on auto loan, or lack of auto loans
• 99-lack of recent info. on finance accts or lack of finance accts

A question kind of on point since we are discussion TransUnion. . .our TU rep told us (after consulting the VP) that we could just give the customer a copy of the first page of the credit report (or the whole report for that matter) if we also distributed an article on credit report scoring on the FTC website mentioning Fair Isaac. Unfortunately, I stupidly did not get this in writing, but I do know that they will not be providing a service whereby TU sends the information to the customer for a cost to the bank.
Unless I'm completely unable to use the search function, the FTC website doesn't have an article on credit report scoring but I have found a Fair Isaac article elsewhere titled "Understanding Your Credit Score" with info on all three CRAs. I'm assuing this is the article to which she was referring.
Are any other banks taking this approach?
Thanks!

Notice how the credit report people don't think stuff is necessary and it's not their bums on the line if it is?

I thought we were ready to go on 11/30 but then yesterday, nothing happened the way they said it would. Called the cba and was told, "Oh, our IT people don't think this is a priorty item so they haven't loaded it on the system yet." WHAT?!?!?!

Not only do we have to cover ourselves and provide the information, we have to fight to get it. I love my job, I love my job, I really love my job...just not today!

Our research showed a lot of lenders are providing the Notice to the Home Loan Applicant along with the credit report.